Manhattan Beach... Days on Market May 2009
April and May continue to see better sales volume numbers then January-March. The middle and entry levels seem to be be moving... slowly perhaps but they are moving. There are 48 pending home sales, 11 are priced under $1million... 12 of the sales are priced from $1.0- $1.6... 16 are priced at $1.6-$2.0... 7 are between $2.0-$3.0...while 2 are over $3 million. There are 15 pending townhome sales of which 7 are under $1.0...6 are $1.0-$2.0 and 2 are over the $2 million mark.
While the number of homes over $2 million for sale has increased there isn't a lot of movement in the upper price levels. There are 87 homes for sale priced at $2 million plus. At least 24 of those have been listed for 200+ days. There are a number of reasons of course.
The economy is still in a lot of trouble and a lot of folks who had money last year may not be quite as flush this year. It's still tough to find a loan over $1.5 million. You may have a large down payment but if you are not a member of the Private Bank crowd you will find financing tough to obtain and expensive. Also, as with all price levels, many of these homes are simply priced higher then they should be if they want to sell. Finally, a number of these homeowners are not in dire straits and don't have to sell. They will sell if they get their price... if that doesn't happen... they will take the home off the market until the market changes.
Manhattan Beach: Market Snapshot May 2009(click on graph to enlarge)
Manhattan Beach: Price Ranges May 2009
Manhattan Beach: Market Snapshot April 14, 2009
Manhattan Beach: Market Snapshot March 14, 2009
Manhattan Beach: Market Snapshot February 10, 2009
Manhattan Beach: Market Snapshot January 19, 2009
Manhattan Beach: Market Snapshot December 4, 2008
Manhattan Beach: Market Snapshot November 8, 2008
Manhattan Beach: Market Snapshot October 13, 2008
Manhattan Beach: Market Snapshot September 15, 2008
Manhattan Beach: Market Snapshot August 19, 2008
Manhattan Beach: Market Snapshot July 17, 2008
Manhattan Beach: Market Snapshot July 7, 2008
Manhattan Beach: Market Snapshot June 20, 2008
Manhattan Beach: Market Snapshot June 5, 2008
Manhattan Beach: Market Snapshot April 29, 2008
Manhattan Beach:Market Snapshot April 14, 2008
Manhattan Beach: Market Snapshot March 31, 2008
Manhattan Beach: Market Snapshot March 13, 2008
Manhattan Beach: Market Snapshot February 26, 2008
Manhattan Beach, CA: Market Snapshot February 11, 2008
*There are a few more sales and pending sales not on the MLS that are not included in the graphs.
1 comment:
In many communities in Southern California, there are trends towards reversal or stabilization. But it is by no means widespread. The trends vary greatly from community to community some of which can be adjacent to each other.
The entry level and first time buyer market is a huge stabilizing influence by stopping declining prices and keeping inventory under control. Once thing we can say for sure is that there was a lot of erratic market performance since the beginning of 2009 which is now beginning to settle into patterns.
http://www.neighborcity.com/CA/Manhattan-Beach_Residential_For-Sale/real-estate/
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